BANKING AND CREDIT
NATIONAL BOARD URGED
(Special to the "Evening Post.")
PALMERSTON N., This Day.
"This country, unless I am mistaken, is going to demand a change in our banking and credit methods. Common sense demands that we do something instead of helplessly looking on and letting those who have brought this wonderful country to its present desperate plight continue, with their old shibboleths," said the Mayor (Mr. A. E. Mansford), when addressing the Palmerston North Citizens' Lunch Club on currency.
"If oar experiment fails, we can but admit it," he said. "Our position cannot be worse than it is, but, above all, let us try something. I strongly favour the credit of tho country being placed in the hands of a National Credit' Board. There is now available a statistical measure which ought to go far towards dispelling the money illusion. This measure is the index number of production and prices. Its function should be to measure tho quantities of production and the average of prices. If our wealth is based on such a scientific foundation it must surely be an improvement on the present system."
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Bibliographic details
Evening Post, Volume CXVI, Issue 70, 20 September 1933, Page 10
Word Count
187BANKING AND CREDIT Evening Post, Volume CXVI, Issue 70, 20 September 1933, Page 10
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